Netwin Solutions' GTKonnect Announces New FTZ Software to Manage Foreign Trade Zone Requirements
Westminster, Calif, Jan 24, 2013 (PRWeb.com via COMTEX) --
Netwin Solutions, Inc., a premier provider of integrated Global Trade Management (GTM) solutions and the company powering GTKonnect suite, is announcing its GTKonnect FTZ (or Foreign Trade Zone) software. The new software automates and simplifies complex zone-related data management, deadlines and reporting through reconciliation with inventory Bill of Materials (BoM), exception reporting, and integration with other software systems and partner organizations to reduce data entry.
The U.S. Foreign Trade Zone program allows companies to defer paying customs duties, fees, and taxes on merchandise that is imported into the United States until it is consumed, used in construction, or leaves the zone. However, managing and reporting this information, and staying on top of regulations, can be extremely complex without proper software systems. GTKonnect's FTZ software provides end-to-end management of zone requirements with zone admission (or e-214 filing) to notify U.S. customs of merchandise entering the zone via automated broker interface (ABI) link, QP/WP reporting for goods that arrive in one location and are being shipped to the zone or exported out of the zone, complete inventory management and visibility to process all zone related inventory transactions, 06 and 08 entry filing, and end-of-year reporting. It also offers system tasks throughout the process to ensure the user does not miss customs and border protection or FTZ Board deadlines or submission dates. In addition to integrating with other systems, it speeds processing with electronic filing of e-214, QP/WP (electronic in-bond transactions), and customs entries through ABI and other documentation and allows the operator to use exceptions--via email alerts and system screen prompts--to automate and simplify the process.
Mitsubishi Motors North America, a current user of GTKonnect FTZ Software, has been a user since Dec 2012. The company uses it to automate more than 250,000 zone transactions per day in the production of 250-400 cars in its zone factory in Normal, IL. The software has enabled Mitsubishi Motors to manage complex zone reporting without requiring additional staff.
"The rules and regulations surrounding zone requirements are complex, and it would be a huge undertaking for us to stay current and manage the information on our own. At Mitsubishi, we have extensive experience working with Netwin through several of their other offerings and knew, from the level of quality received, that their FTZ Software would meet or exceed our expectations," said Ralph Garcia, manager, International Trade Compliance at Mitsubishi Motors, "GTKonnect makes it easy for us, and our customs broker, to manage the constantly evolving FTZ reporting process."
GTKonnect's FTZ Software provides a comprehensive audit trail for both general purpose and manufacturing zone automation and is ABI and ACE approved. Additional features include:
oAbility to integrate bill of materials and/or inventory consumption data regularly to track inventory, avoid manual entry and reconciliation
oFlexibility to accommodate complex manufacturing processes and use of inventory including exports, domestic, and ancillaries
oAbility to do weekly estimate and anti-dumping tracking and combined NAFTA entries
oUnified web browser user interface and platform to manage all zone operations for a single site or multiple subzones, as well as multiple customers in a general purpose zone or any combination thereof
oAutomatic population of Advanced Shipment Notification (ASN) information through integration with systems from carriers, freight forwarders, vessel operators etc.
oAbility to do individual and weekly entries (including CBPF in-bond documentation), generate custom and annual CBP Reconciliation, FTZ Board, Quarterly Harbor Maintenance Fee Data reports
"Due to the complexities of FTZ reporting, we see a huge need for technology to help manage the process," said Anand Raghavendran, president and COO of GTKonnect, "We are excited to offer Mitsubishi and other companies a flexible, full-featured alternative that can fit into their business flow, be used at any level of automation, and work for any zone, GTKonnect FTZ automates the entire compliance process."
For more information, please visit http://www.GTKonnect.com or contact sales(at)netwinsolutions(dot)com.
GTKonnect is the application platform of choice for growing numbers of Fortune 500 organizations involved in global trade. With GTKonnect's integrated supply chain management platform, organizations automate and simplify trade compliance, minimize fines and audits, and gain real-time visibility and tracking of information throughout the life of transactions. GTKonnect is scalable and available in hosted or in-house modules designed to solve every global trade need. Its solutions are built on the latest technology, including web technologies (HTML, XML, C#, .NET) and service based architecture, and are designed to integrate and share date with enterprise resource planning and other systems. Clients include EPSON, DHL, Alcoa, Volkswagen, Mitsubishi Motors, Subaru, Mattel, DFS and others. GTKonnect is online at http://www.gtkonnect.com
About Netwin Solutions
Netwin Solutions is a premier provider of integrated global trade management software solutions through its GTKonnect suite. It is focused on providing seamless integration and automation and draws on over 20 years of international trade experience. It is the first company to be Automated Export System (U.S. Customs) certified and to implement a complete paperless imports solution. It also offers consulting and training.
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